Wednesday, October 29, 2014
MCX Crude oil is witnessing a sharp upside movement today in Indian commodity market. Crude oil is trading up at around 5030. International crude oil is also moving upside. American energy department's report is scheduled today. Just before the meeting of US Fed the gold and silver are trading consolidate today. Gold and silver are trading at around their previous closing levels of yesterday. Currency also could not support the bullion metals. Live Gold is trading around 27200 while silver is at 38200. Base metals are facing bearish trend today after the upside bullish movements of yesterday.
Monday, September 29, 2014
Gold in the international market is trading at around USD 1215 after hitting the 9 months low. Comex gold in the last week touched the lowest of 9 months of 1206 dollar. Silver on Comex also slipped by around 1 percent to trade on lower levels. Strengthening dollar has put the pressure on crude oil prices. Gold in Indian commodity market is also trading down at around 26908 despite the festive season ahead in India. Silver also trading on lower levels at around 39060. In the successive trading sessions today the gold silver prices are expected to go upside. Traders are advised to buy gold and silver on lower levels and to book profit on higher level.
Thursday, September 11, 2014
In base metal updates on Multi Commodity Exchange (MCX), top three trading metals in the week pointed to Copper, Aluminum and Nickel. Global markets indicated positive outlook for Copper futures which added 0.13 percent to copper futures raising their trading amount to Rs 423.25 for a kg of copper.
Hidden and most important reason which improved position of copper in the market is increasing domestic demand in on-spot market trading as its applicability rose with expansion in industries.
In international markets, copper with delivery dated three months ahead moved 0.6 percent up trading at USD 6,879 in London metal exchange. Further surge in the prices of commodity is citing as it is a starting point to a growth cycle of prices.
Aluminum futures rose 0.16 percent trading at Rs 126.30 for a kg of commodity with delivery marked in future. Traders positioned themselves at a stronger mark as a further growth in the market is coming, with analytical charts showing a growth trend.
The main reasoned behind growing aluminum futures is highlighting firm positioning of other base metals, especially copper which influenced pricing of aluminum.
Nickel expanded 0.17 percent in the trading day today bringing its rate to Rs 1,151.50 per kg in future positions. Market speculators are spotting expansion in prices with support from rising demands because of its rising need in making alloys.
Global market, specifically London Metal Exchange is hiking the prices of Nickel in a similar fashion.